Business news, May 28: Times Nasdaq deal; Philip Green store; Green wave in Europe

The following are the top stories on the business pages of British newspapers. Reuters has not verified these stories and does not vouch for their accuracy. The Times Nasdaq Inc has scrapped its 615 million pounds ($779.76 million) bid to buy Norway's stock exchange Oslo Bors, opening the way for a European rival after a five-month takeover tussle.

The Co-operative Group Ltd has raised 300 million pounds from a pioneering bond issue and plans to plough the proceeds into promoting Fairtrade, the ethically minded movement dedicated to giving farmers and their workers a better deal.

The Guardian Philip Green is to close Miss Selfridge's flagship London store in July as staff fear for the future of the fashion brand, which is facing significant store closures in a rescue restructure of the former billionaire's retail empire.

Agustin Carstens, one of the frontrunners to be the next governor of the Bank of England, has ruled himself out, limiting the Treasury's choice of candidates to succeed the outgoing governor, Mark Carney.

The Telegraph Drax Group Plc plans to develop Britain's first 'carbon negative' power plant and carbon-free gas by the mid-2020s in partnership with Norway's state energy giant Equinor ASA and National Grid Plc.

Rothschild & Co, the 209-year-old ­investment bank, is drawing up plans to expand across America in a fresh ­attempt to try to break the stranglehold of Wall Street. Sky News U.S. investment company Fortress is vying with rival bidders including OpCapita to acquire Majestic Wine Plc's physical retail assets as it pursues a strategy to focus on its Naked Wines digital platform.

Fiat Chrysler Automobiles NV is proposing a fifty-fifty merger with French car manufacturer Renault SA in a bid to save billions of dollars. The merged company would produce 8.7 million vehicles annually and save 5 billion euros ($5.60 billion)for both companies each year by sharing research, purchasing and other activities.

The Independent The European Parliament elections have seen a "green wave" sweep the continent, campaigners claimed, as environment-focused politicians surged in popularity – and in the UK, beat the ruling Conservative Party into fifth place.